Global Monosodium Glutamate Market Rising at $5,850.0 Mn in 2020
Deerfield Beach, FL -- (SBWIRE) -- 08/02/2017 -- Zion Market Research has published a new report titled "Monosodium Glutamate Market for Food Processing Industry, Restaurants and Institutional Food Service Applications: Global Industry Perspective, Comprehensive Analysis And Forecast, 2014 – 2020." According to the report, the global monosodium glutamate market was valued at USD 4,500.0 million in 2014, and is expected to generate revenue of USD 5,850.0 million by end of 2020, growing at a CAGR of 4.5% between 2015 and 2020. In terms of volume, the global monosodium glutamate market was stood at around 3,000.0 kilo tons in 2014.
Monosodium glutamate is most commonly known as MSG and is also called as sodium glutamate. MSG is a non-essential amino acid. Monosodium glutamate is a sodium salt of glutamic acid. It is naturally occurring in tomatoes, Parmesan cheese, potatoes, mushrooms, and other vegetables and fruits. Some of the most commonly used commercial production methods of MSG include hydrolysis of vegetable proteins, direct chemical synthesis with acrylonitrile, and bacterial fermentation. The bacterial fermentation process is most widely used method for manufacturing of MSG. It is typically used in the food industry as a flavor enhancer and food additive. MSG is also used in animal feeds in a small volume.
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MSG is rapidly growing into popularity among end-users owing to its flavor enhancing properties. Rising demand for flavoring agents is expected to be an important driving factor for the growth of monosodium glutamate market. The demand for MSG from restaurants and institutional food service providers, as well as household consumption, is also expected to grow at moderate pace in the years to come. The global monosodium glutamate market is mainly driven by strong growth of food processing industry across the world. However, rising health issues with the consumption of MSG and various regulatory policies regarding use of MSG in food products is expected to limit the growth of this market.
Food processing industry (snacks, canned food, frozen food, others), restaurants and institutional food service are some of the major application markets for MSG. Food processing industry is the largest segments of monosodium glutamate market. The demand for Chinese food products and fast food is expected to grow in Asia pacific region. Food processing industry includes in snacks, canned food, frozen food, sauces, gravies, ketchup, canned meat, soy sauce, sauces and, gravies among others. Restaurants and institutional food service providers is also an important application segment of MSG and expected to witness significant growth in the years to come.
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With over 80% shares in total volume consumption, MSG market was dominated by Asia Pacific in 2014. Strong demand for MSG from China, Vietnam, Indonesia, Thailand, Japan, Taiwan, etc. is mainly responsible for rapid growth of this industry in the region. Change in lifestyle, increasing disposable income, and change in food habit is primarily responsible for the growth of MSG market in the region. Asia Pacific was followed by North America and Europe respectively. Latina America & Middle East Africa accounted for the small share of the total revenue generated by MSG market in 2014. North America, Europe, Latin America and Middle East Africa accounted for the very small share in total volume consumption of MSG in 2014.
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Some of the major industry participants in global monosodium glutamate market include TheFufeng Group, Meihua Group, Ajinomoto, Lotus Group, Ningxia Eppen, Shandong Qilu Biotechnology Group, Shandong Linghua Group, Vedan, Shandong Shenghua Group, and Jianyang Wuyi MSG Co., Ltd.
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